08-04: DaVita, Professional Center, Strip Centers, Office Buildings

1. Retail Center in Mount Arlington, NJ: 23,200 SF attractive retail center built in 2006 on over 2 ac lot in high income New York metro. With easy access to I-80. Major tenants include: Dunkin’ Donuts, Wells Fargo, Remax and Edward Jones Financial. 84% leased. Actual NOI $321K/yr. $4.6M. 7% cap. Upside potential when fully leased.
2. DaVita in Fontana, CA: 10,525 SF well kept dialysis center on over 1 ac lot along main corridor in San Bernardino County. Close to Kaiser Permanente-Fontana and I-10.  100% NNN- corp lease with over 5-yrs left. NOI $296K/yr. $4.481M. 6.50% cap.
3. Retail Center in North Richland Hills, TX: 22,260 SF retail center in affluent Dallas suburbs (AHI $143K/yr in 1 mile). Close to Walmart supercenter and Target.  $100% leased.  NOI $440K/yr. $5.5M. 8% cap.
4. Retail Center in Houston, TX: 14,459 SF retail center renovated in 2011 on 1.44 ac lot with all units facing main retail artery. Adjacent to North Oaks Power Center with Hobby Lobby, Rodd Dress for Less, TJ Maxx and Anna’s Linens. Only two vacancies. Actual NOI $142K/yr. $1.912M. 7.44% cap. Upside potential.
5. Retail Center in Baldwin Park, CA: 24,262 SF attractive retail center on over 1 ac outparcel to Home Depot in densely populated Los Angeles County. Across from Walmart Supercenter and next to I-10. 100% NNN leased to thirteen tenants. NOI $769K/yr. Price: Best Offer
6. Professional Center in Indianapolis, IN: 14,332 SF Class-B office building completed in 1990 on 1.85 ac lot. Near Walmart Supercenter, Lowe’s and I-465/74. 100% NNN leased with good tenant mix including: Pearl MediSpa, Childhood Leukemia, State Farm Insurance and Heating Solutions Plus. NOI $145K/yr. $1.25M. 11.63% cap.
7. Strip Center in Norco, CA: 6000 SF well maintained strip center at a signalized intersection in growing and high income Riverside County with an AHI of $92K/yr in 1-mile. 100% leased. NOI $82K/yr. $999K. 8.25% cap.
8. Office Building in Loveland, CO: 8940 SF Class-B multi-tenant office building completed in 1999 on .89 ac lot in growing middle-class area. 100% NNN leased. NOI $90K/yr. $1.245M. 7.25% cap.
9. Office Building in Joliet, IL: 22,898 SF  office building with high-end interior finishes in lobby and suites in growing upper middle-class  Chicago metro. With easy access to I-55. 73% leased to multiple credit tenants. Actual NOI $239K/yr. $2.85M. 8.40% actual cap. Upside potential.
10. Office Building in Riverside, CA: 57,198 SF class-B office building remodeled in 2001 on nearly 5 ac lot. Close to Kaiser Permanente-Riverside and Hwy-91. 100% leased to The county of Riverside with its department of Public Social Services and Department of Public Health. NOI $697K/yr with 3% annual rent increases. $8.21M. 8.50% cap.

            (c) Transmercial 2014